First Floor, 115 Mount Street, W1K 3NQ
Offices and premises Decided 11 December 2020 CHG100054071 Conneely Tribe
Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 2 properties; the figures shown are for the first listed.
What was argued and what the tribunal found
The appellants argued for reduction based on lease agreements at lower rents, citing poor quality and lack of open market testing. The tribunal accepted that comparable refurbished properties nearby justified a different valuation but found the appellants' proposed rate of £440/m² too low, given some landlord concessions were likely built into the agreed rents. The tribunal adopted a middle ground of £550/m² as fair and reasonable, reducing the first floor from £58,000 to £47,000 and the second floor from £35,500 to £28,000.
Summary generated from the decision text and checked against it. The appellant was John Arkwright and Co Ltd / Hoddell Stotesbury and Morgan Ltd, represented.
Grounds argued
- Rental evidence · decisive
- Comparable assessments (tone)
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus and Delta v Culverwell
- Hearing
- 30 November 2020
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